Practice question
Under Article 1482, earnest money given in a contract of sale is considered what?
- Part of the price and proof of perfection of that contract
- Only a fee unrelated to the price in every case
- An automatic transfer of every seller asset
- An automatic criminal penalty
- An amount that can never be accounted for
Legal references
- Civil Code Articles 1475, 1477 and 1482: https://lawphil.net/statutes/repacts/ra1949/ra_386_1949.html
- Chavez v. Spouses Gopez, GR 242366, February 26, 2025, main decision: https://lawphil.net/judjuris/juri2025/feb2025/gr_242366_2025.html
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